Tuesday, 18 April 2017

5 things to quickly improve your trading

Feeling like there are still a lot of things out there that might help you enlarge your profits? Well… You are right. But no worries, it’s never too late to make a change and start being more productive and profit-focused. Here, a list of 5 tips to quickly turn your charts green:

Choose a top-tier broker
If you want to profit, your broker should have your back. Stop trading with those untrusty brokers and open an account with top-tier institutions that will provide you with a wide range of trading conditions to make you more profitable from every angle. Heard of Fort Financial Services? ;)

Educate yourself
Education is key for success. And by education I don’t mean you have to spend 5 years sitting in a classroom. Come on… it’s the twenty one century buddy! Just turn on your laptop and find verified trading courses online that will give you practical, useful basic understanding of how financial markets work and some of the most popular strategies. Then, it’s all practice.

Get meaningful support
Believe it or not, having someone you can talk about your day is incredibly important. That can be a trader, a friend or your couple. But the fact is that you should find someone to share your emotions and release your trading-related tension. If this person has trading knowledge, jackpot! Because not only he or she will be able to listen to you, but also help you improve your trading from an emotional or technical perspective.

Practice, practice and practice
Remember about that old demo account of yours? Yes, that one. Well… It seems you’ll need it from now on. Moving to a real account doesn’t mean you should deactivate your demo version. Risk-free environments are great for testing new strategies and practicing different trades. This profession is all about learning on everyday basis.
A strategy may seem simple on the surface, but even a simple strategy is hard to implement in live market conditions. Every day, every trend, every pullback is slightly different; nothing looks exactly the same as it did in the textbook examples. To get proficient at implementing a method, practice it, a lot. Trade it in a demo account until you consistently see profit from it.

Clear state of mind
Not everything is about trading itself. Be aware that being a successful trader requires a lot of internal work, meaning you should be mentally healthy and tuned for profits if you want to get somewhere in this industry.
Start your day by taking a few minutes exclusively for yourself, leaving aside any kind of digital distraction (emails, social media, etc) and focusing on your trading goals and strategy. Think of what’s your ultimate goal for the day and how to get there with efficiency.